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Bulletproof Business Cases

An essential ingredient to successful projects is a clear and relevant business case. It provides both insights into and a proposed solution for important business needs. Bulletproof business cases contain feasible and effective ways of justifying and recommending projects that squarely address business needs, both problems and opportunities.

Duration: Classroom - 2 Days | Virtual - 4 Days
Why Take This Course:

Project teams are often expected to develop business cases for the performing organization. When asked to do so, it is critical to create a solid business case. All too often, project teams are asked to implement a solution before the underlying problem is known or assessed. No one likes working on misguided projects, or efforts that don’t meet business needs, or projects doomed for failure. Worst of all are projects that are cancelled because of lack of support or sponsorship. A well-defined business case helps prevent these issues.

An essential ingredient to successful projects is a clear and relevant business case. It provides both insights into and a proposed solution for important business needs. Bulletproof business cases contain feasible and effective ways of justifying and recommending projects that squarely address business needs, both problems and opportunities.

Through this course, you will learn a repeatable process that starts with identifying business needs and ends with a bulletproof business case. You will learn and practice applying each step in a 5-part approach to developing business cases. Help contribute to your organization’s bottom line with bulletproof business cases!

Learn How To:

The course will help you practically learn on the following areas:

  • Learn a practical and repeatable process for developing solid business cases
  • Guide your organization to solve the right problems and address the right business needs
  • Help prevent unwarranted and potentially wasteful projects from getting initiated
  • Function as a trusted advisor to your business
  • The small-class environment, practical exercises, and a realistic case study keep you engaged and aid in your retention and learning
  • Describe the essential components and roles needed for an effective business case
  • Explain the need for business cases even when faced with business leaders anxious to “jump to a solution”
  • Plan and execute the steps needed for a business case effort using an approach that helps you function as a “trusted advisor” or management consultant to your organization
  • Define business needs through solid situation statements that form the cornerstone of an effective business case
  • Select and use appropriate techniques for determining root causes of business problems or the main drivers of opportunities
  • Use one or more of the methods presented to formulate recommendations in a business case
  • Perform cost-benefit analysis for business cases using the four essential financial valuation formulas
  • Prepare an implementation plan and evaluation measures for a business case
 Contents:

Purpose, Content, and Roles for Business Cases

  • Business case overview
  • Roles Involved in business cases
  • SARIE framework for business cases
  • Exercise

Define the Business Need: Understanding the Situation

  • Determining the right problem to solve or opportunity to seize
  • Crafting a solid situation statement in business terms
  • Exercise
  • Case Study Workshop

Analyzing the Business Need

  • How analysis avoids “jumping to solutions”
  • Three key techniques for getting to the root cause
  • Case Study Workshop

Making Sound Recommendations

  • Developing recommendations based on needs and causes
  • Case Study Workshop
  • Five critical methods to ensure recommendations are thorough and complete
  • Two Decision analysis techniques to adjust recommendations to the criteria of importance to decision-makers and ensure the business case supports business objectives
  • Case Study Workshop

Performing Cost-Benefit Analysis to Cost-Justify a Recommendation

  • Exercise
  • Benefit types and tips for citing them
  • Cost types and tips for identifying them
  • Four essential and industry-standard financial valuation techniques: Payback period, ROI, Internal Rate of Return, and Net Present Value
  • Exercise
  • Case Study Workshop

Planning Implementation and Evaluation of a Business Case

  • High-level implementation considerations, including dependencies, milestones, change management, and overcoming obstacles
  • Plan evaluation criteria
  • Packaging and presenting a business case, focusing on audience communication preferences
  • Case Study Workshop

APPENDIX

  • Business Case Template (includes a downloadable soft copy)
Format: To help assimilate the tools and techniques learned, there is a mixture of various kinds of exercises throughout the course. A lively role play and case study help reinforce concepts learned. Students will need to be prepared for a high level of participation. Each participant will receive a comprehensive student guide complete with examples and workshop solutions.
Who Should Attend: Project professionals who are asked to create business cases for their organization. This could be business analysts, project managers, process analysts, or business staff.
Prerequisites: Experience working on projects. Individuals who have experienced problems from projects initiated without a business case may advance quicker at first.
Knowledge Area:

BABOK®

PMBOK®

Requirements Elicitation
Enterprise Analysis
Requirements Analysis
Solution Assessment and Validation
Underlying Competencies

Project Integration Management
Project Stakeholder Management

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